Assura Accelerates Investment Spending To Increase Property Portfolio

(Alliance News) - Assura PLC on Monday said it enhanced its property and development portfolio in ...

Alliance News 11 January, 2021 | 9:37AM
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(Alliance News) - Assura PLC on Monday said it enhanced its property and development portfolio in the third quarter of its financial year and has a strong pipeline going forward.

Assura is a Warrington, England-based primary care property investor and developer.

Assura said it completed a total of 16 acquisitions in the third quarter ended December 31 for a total consideration of GBP89 million.

The company now has 593 properties, compared to 563 a year ago, with a current annualised rent roll of GBP118.0 million, up 12% from GBP105.8 million a year prior.

The immediate acquisitions pipeline stands at GBP80 million, the company said.

Chief Executive Jonathan Murphy said: "Our experienced internal investment and development teams have continued to successfully replenish our acquisition and development pipelines, and we have a significant number of attractive new opportunities."

Assura is currently working on 15 developments for a total cost of GBP71 million. The company added that its immediate development pipeline totals a further GBP60 million, with schemes expected to start development within 12 months.

Murphy said: "Construction on all our new developments continues, despite the third national lockdown, to deliver new capacity for primary care around the country."

Assura shares were up 0.4% at 79.62 each in London on Monday morning.

By Greg Roxburgh; gregroxburgh@alliancenews.com

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Assura PLC 41.80 GBX 0.87 -

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